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Accenture PLC (NYSE:ACN) Given Average Rating of "Moderate Buy" by Brokerages

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Key Points

  • Accenture has an average analyst rating of “Moderate Buy” from 27 research firms, with 16 buy ratings and 11 hold ratings. The average 12-month price target is about $242.41.
  • The stock is trading sharply lower, opening at $156.21, near its 12-month low of $155.82, after a 5.6% decline. Despite the drop, Accenture still showed solid recent fundamentals, including quarterly EPS and revenue that both beat estimates.
  • Recent analyst notes have been more cautious, with several firms trimming price targets, even as Accenture continues to see activity from institutions and insider selling by CEO Atsushi Egawa under a pre-arranged trading plan. The company also recently announced AI- and expansion-related initiatives, including a collaboration with Unilever and acquisitions in healthcare and industrial software.
  • Interested in Accenture? Here are five stocks we like better.

Accenture PLC (NYSE:ACN - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the twenty-seven research firms that are currently covering the stock, Marketbeat.com reports. Eleven analysts have rated the stock with a hold recommendation and sixteen have issued a buy recommendation on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $242.4074.

ACN has been the subject of a number of analyst reports. Stifel Nicolaus dropped their price objective on shares of Accenture from $315.00 to $270.00 and set a "buy" rating for the company in a report on Wednesday, June 3rd. Berenberg Bank set a $220.00 price objective on shares of Accenture in a report on Wednesday. The Goldman Sachs Group lowered their target price on shares of Accenture from $300.00 to $270.00 and set a "buy" rating for the company in a research note on Wednesday, June 3rd. Mizuho lowered their target price on shares of Accenture from $309.00 to $280.00 and set an "outperform" rating for the company in a research note on Monday, March 23rd. Finally, JPMorgan Chase & Co. lowered their target price on shares of Accenture from $247.00 to $201.00 and set an "overweight" rating for the company in a research note on Monday, June 8th.

Get Our Latest Stock Analysis on Accenture

Accenture Trading Down 5.6%

Shares of ACN opened at $156.21 on Thursday. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.16. Accenture has a 12-month low of $155.82 and a 12-month high of $314.20. The firm has a 50-day moving average price of $179.51 and a 200 day moving average price of $219.86. The firm has a market capitalization of $103.95 billion, a P/E ratio of 12.79, a P/E/G ratio of 1.57 and a beta of 1.08.

Accenture (NYSE:ACN - Get Free Report) last announced its quarterly earnings data on Friday, March 20th. The information technology services provider reported $2.93 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.84 by $0.09. Accenture had a net margin of 10.61% and a return on equity of 26.33%. The firm had revenue of $18.04 billion during the quarter, compared to analyst estimates of $17.80 billion. During the same quarter in the prior year, the firm posted $2.82 earnings per share. Accenture's quarterly revenue was up 7.8% on a year-over-year basis. Sell-side analysts forecast that Accenture will post 13.83 EPS for the current year.

Insiders Place Their Bets

In other Accenture news, CEO Atsushi Egawa sold 4,872 shares of the stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $177.14, for a total transaction of $863,026.08. Following the completion of the transaction, the chief executive officer owned 12,802 shares of the company's stock, valued at $2,267,746.28. This trade represents a 27.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.02% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Board of the Pension Protection Fund purchased a new position in Accenture during the fourth quarter worth about $27,000. Laurel Wealth Advisors LLC acquired a new stake in shares of Accenture during the fourth quarter worth about $27,000. McMillan Office Inc. acquired a new stake in shares of Accenture during the fourth quarter worth about $27,000. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Accenture during the fourth quarter worth about $27,000. Finally, Triumph Capital Management acquired a new stake in shares of Accenture during the third quarter worth about $26,000. Hedge funds and other institutional investors own 75.14% of the company's stock.

More Accenture News

Here are the key news stories impacting Accenture this week:

About Accenture

(Get Free Report)

Accenture is a global professional services company that provides a broad range of services and solutions in strategy, consulting, digital, technology and operations. The firm works with organizations across industries to design and implement business transformation programs, deploy and manage enterprise technology, optimize operations, and develop customer and digital experiences. Its offerings encompass management and technology consulting, systems integration, application and infrastructure services, cloud migration and managed services, as well as security and analytics capabilities.

The company delivers industry- and function-specific solutions, combining consulting expertise with proprietary tools, platforms and partnerships with major technology vendors.

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Analyst Recommendations for Accenture (NYSE:ACN)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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